Teacher Retirement System of Texas Invests $1.65 Million in Hanmi Financial Co. (NASDAQ:HAFC)

Teacher Retirement System of Texas acquired a new position in Hanmi Financial Co. (NASDAQ:HAFC) in the fourth quarter, Holdings Channel.com reports. The fund acquired 69,954 shares of the bank’s stock, valued at approximately $1,652,000.

A number of other institutional investors have also recently made changes to their positions in HAFC. Smartleaf Asset Management LLC raised its stake in Hanmi Financial by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock valued at $25,000 after buying an additional 747 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Hanmi Financial during the third quarter worth about $28,000. R Squared Ltd acquired a new position in shares of Hanmi Financial during the fourth quarter valued at about $43,000. Versant Capital Management Inc raised its position in shares of Hanmi Financial by 110.7% in the 4th quarter. Versant Capital Management Inc now owns 1,970 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,035 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Hanmi Financial by 17.0% in the 4th quarter. New York State Common Retirement Fund now owns 8,257 shares of the bank’s stock worth $195,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HAFC shares. DA Davidson reaffirmed a “neutral” rating and issued a $27.50 price target on shares of Hanmi Financial in a report on Thursday, January 30th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $29.00 target price (up previously from $24.00) on shares of Hanmi Financial in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.75.

Hanmi Financial Stock Performance

Shares of NASDAQ HAFC opened at $22.86 on Friday. The company has a 50 day simple moving average of $23.33 and a two-hundred day simple moving average of $22.84. The stock has a market cap of $690.28 million, a price-to-earnings ratio of 11.15 and a beta of 0.87. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Hanmi Financial Co. has a 12 month low of $14.45 and a 12 month high of $27.59.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Hanmi Financial had a net margin of 14.45% and a return on equity of 8.64%. As a group, analysts predict that Hanmi Financial Co. will post 2.6 earnings per share for the current year.

Hanmi Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.72%. This is a positive change from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. Hanmi Financial’s dividend payout ratio (DPR) is 52.68%.

About Hanmi Financial

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.